Flat with balcony deck access – we have a range of lenders that will lend on this type of property.
If you bought a flat with balcony deck access in the last 10 years you may have experienced difficulty getting a mortgage or are perhaps on a high interest rate.
The Credit Crunch has meant that what funding has been available has often channelled in more desirable property to give greater protection to the Mortgage Lenders. This is well and good for them but left a large sector of the mortgage market underserved.
Even before the Crunch: Blemain Finance Group, Victoria Mortgages, Preferred Mortgages and London & Scottish denominated the lending on balcony deck access and deck access flats; and their interest rates were often considerably greater than high street alternatives.
Fast forward to 2018 and the liquidity of funding is in a far rosier state with a plethora of Mortgage Lenders showing much greater desire to lend on balcony access flats so now is a great time to think about switching your mortgage to a fixed rate giving the market is predicting interest rate rises. Liquidity too has had a history of going in up and down in cycles so why not cease the opportunity because if market conditions cease back up you may well be left with limited mortgage choice again.
Here are some of the property areas we can help arrange mortgages on with our panel of Mortgage Lender partners:
- Balcony access and deck access flats.
- High rise flats, blocks of up to 20 storeys (potentially higher by referral).
- Ex local authority flats.
- Flats above businesses and shops.
- Concrete construction.
- Flat roofs.
- Residential and buy to let.
- Minimum property value £40,000.
- Inner city.
- Right to Buys.
- Range of fixed rate options 2, 3, 5 and 10 years.
- First charge mortgage and second charge secured loans.
Click here to see balcony deck access products
Niche Advice is not a Mortgage Lender but a Broker that offers appropriate advice to mortgage applicants with potentially problematic properties including those with balcony access. To find out more please complete the Contract Form on this website or call T: 020 7993 2044.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.
